Commercial Real Estate & Business News October 23, 2019

Institutions Continue to Raise Real Estate Allocations in 2019 An annual report from Hodes Weill and Cornell University shows real estate remains a preferred asset class among global institutions.Global institutions continue to raise their allocations to real estate, according to the latest Allocations Monitor survey from Hodes Weill & Associates and the Columbia University Baker Program in Real Estate. The survey, based on…»
Rising Rents: a Boon to Commercial Investors but a Bane for Renters
In the small commercial market (less than $2.5 M) that most REALTORS® do business in, REALTORS® reported strong sales and leasing activity for multifamily and industrial properties according to the 2019 Q3 Commercial Real Estate Trends & Outlook Report. The multifamily market had the lowest median going-in cap rate, at…»
Developers Break Ground on Massive Mesa Office Complex
Developers broke ground Tuesday on the first office building in a sprawling new business complex in Mesa. The four-building project, which is called Union, is being built in the Riverview District near Dobson Road and Rio Salado Parkway. Representatives from Lincoln Property Company, Harvard Investments and the city of Mesa were joined by…»
Blockbuster Land Deal Expands Park303 to 4.5 Million Square Feet
A 196-acre land purchase made by a joint venture between Lincoln Property Company (LPC), Ken Roth/Roth Development Corporation and Scottsdale Investment Management LLC has expanded LPC’s just-announced Park303 industrial project into a major new master-planned, Loop 303-fronting industrial park in Glendale, Arizona. With the…»
Partnership Group Plans to Build Behavioral Health Hospital Near Scottsdale
HonorHealth is teaming with Universal Health Services Inc. (NYSE: UHS) to build a $39 million behavioral health facility in Scottsdale. Plans call for building the 120-bed hospital at 9160 E. Horseshoe Road, which sits on land owned by the Salt River Pima-Maricopa Indian Community. Pennsylvania-based UHS will be the majority owner and oversee the…»